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What $250k will get you on Oahu can vary depending on where you’re looking.
On the Island of Oahu, land has been developed from the Honolulu and Waikiki urban core outward. The closer you come to the urban core of Honolulu, the Kaka’ako, Waikiki or Ala Moana districts, the less you will be able to get for under $250k.
If you don’t mind living a bit further out, however — $250k can buy you a decent home. The transit times will be a bit longer, around an hour to two hours from either the Leeward coast or the North shore to Downtown Honolulu, Oahu. As a trade off, the further out away from the Honolulu urban core, condos tend to have more amenities and features than those in the city at the same price and tend to be newer in construction.
For a single family home, $500k is near the bottom of the range on Oahu. If you’re in this price range and you’re looking to buy a single family home in or near Honolulu - be prepared for it to be a fixer upper.
Similar to above, the further out from the Honolulu area you roam, the better condition homes you can find for $500k. In addition, they’re often larger than what you can get in Honolulu for the same price and newer.
In the Waikiki Marina, a Fee Simple condo can be purchased with a parking stall for around $200-220k. These condos are available as vacation rentals (subject to some conditions), and are less than a 10-minute walk from the Hilton Beach Resort and Ala Moana Shopping Center. They do have maintenance fees of $1,000 to $1,800 — which must be factored in during purchase decisions.
Nearby in the Punchbowl and Makiki areas, a studio or 1 bedroom unit can be purchased for between $185k and 250k. Ranging in size from 293 to 416 sq ft living area, these units are within easy walking distance of Dole Community Park. They are situated near the Honolulu Museum of Art and offer a convenient location if you work in town.
In the charming Palolo neighborhood on Oahu, Hawaii, prices start out at $399,000 for a 4 bed 1 bath, major fixer (possible teardown). Only 5 miles from Honolulu, this fixer upper has lots of character to offer the right home improvement expert. Built in 1938, this house is a part of history and just waiting for the right person to make it a home.
And with Pālolo Valley District Park within easy walking distance, it’s easy to take a break when needed.
Near the North Shore, on the Windward coast $225,000 will buy you a 1 bed 1 bath White Sand Beachfront condo at Pat’s at Panaluu, with access to a semi-private beach. Besides access to the beach, this condo comes with full appliances and access to an exercise room. It is located on Kamehameha Highway, offering quick access to both Hiking Trails and the Ahupuaʻa ʻO Kahana State Park.
On the Leeward shore, a 2 bed 1 bath condo in the gated community of Makaha Valley Plantation, can be had for as low as $229,000 plus $552 maintenance. Located in the Makaha Valley on Oahu, these condos are just a short drive away from the famous Makaha Beach. They are around 815 sq ft living area with many amenities.
Around 30 minutes away from Honolulu you can find 3 bed 2 bath homes for just under $500k. These single family homes are located in the Ewa Gentry neighborhood, and offer easy access to the Hoalauna Community & Dog park. If Golf is more your speed, these homes have several options in the area - including the ‘Ewa Beach Golf Club, designed by Robin Nelson.
A little further out, the newly constructed Mauna Hale Estates offers a 3 bed 2 bath home with no HOA fees for just under $500k. In addition to its wonderful Waianae mountain views, it offers a solar powered hot water heater to help keep electricity costs down year-round. Nearby, the famous Makaha Beach Park is just a short walk away. Tucked away from the main road, this home is move-in ready.
$250k won’t buy you a lot in town, but it does get you within walking distance of the Hilton, the Ala Moana Shopping Center, and other features of Downtown Honolulu, but in a short term rental with no full kitchen. If you don’t mind longer transit times to the downtown Honolulu area, $250k will get you more bang for your buck with offerings of 1 bed 1 bath or beachfront condos on the Leeward Shore or North Shore, respectively.
In the $500k range, there aren’t a whole lot of options close by or within Honolulu unless you’re willing to buy a fixer upper. If you don’t mind longer transit times, however, $500k provides a lot more flexibility the further you get from the city. Around an hour away from downtown Honolulu, the recently finished Mauna Hale Estates are an excellent example - and are move-in ready.
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